Cooperative CEO imprisoned for N2 billion fraud by court

Cooperative CEO imprisoned for N2 billion fraud by court.
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 The CEO of Micheno Multi-Purpose Cooperative Society, was found guilty of conspiracy, gaining property by deception, and money laundering N2 billion, and was given a one-year prison sentence. The Economic and Financial Crimes Commission revealed this in a statement posted on its verified X handle on Saturday. According to the statement, Eke pleaded guilty to four amended charges that the EFCC's Uyo Zonal Directorate had filed against him, and Justice Rosemary Oghoghorie of the Federal High Court in Calabar, Cross River State, found him guilty. 
The statement partly read, "Justice Rosemary Dugbo Oghoghorie of the Federal High Court sitting in Calabar has convicted and sentenced the Chief Executive Officer, Micheno Multi-purpose Cooperative Society, Uno Michael Eke to 1-year imprisonment for conspiracy, obtaining property by false pretence and money laundering to the tune of N2bn." 
The EFCC detailed the charges against Eke, with Count One stating: "That you, Uno Michael Eke (being the President/Chief Executive Officer of Micheno Multi-Purpose Cooperative Society); Registered Trustees of Micheno Multi Purpose Cooperative Society, MMCS, Aya Kanu Aya, (Alias Mbakara) being the Vice President of Micheno Multi-Purpose Cooperative Society (now at large), sometime between June and August 2018 in Calabar within the jurisdiction of this Honourable Court, conspired among yourselves to commit an offence to wit: obtaining property by false pretence and you thereby committed an offence contrary to Section 8 (a) of the Advance Fee Fraud and other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act'." Another charge read, "That you, Uno Michael Eke (being the President/Chief Executive Officer of Micheno Multi-Purpose Cooperative Society), Registered Trustees of Micheno Multi-Purpose Cooperative Society, MMCS, Aya Kanu Aya (Alias Mbakara) being the Vice President of Micheno Multi-Purpose Cooperative Society (now at large), on or about the 12th day of July 2018 in Calabar within the jurisdiction of this Honourable Court, with intent to defraud, did obtain the sum of Two Million Naira (N2,000,000.00) from one Kubnse Ogar Ebute by inducing her to invest the money into your Swiss golden packages through your Micheno Multi-Purpose Cooperative Society Ltd under the false pretence of paying her 80% as return on investment on her principal sum on the 40th day of his investment, which you knew to be false and thereby committed an Offence contrary to Section 1 (1) (b) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.
" Eke pleaded guilty to the charges when they were read to him in court. Related News EFCC returns $132, 362, N78m to foreign fraud victims Court jails 30 internet fraudsters in Oyo EFCC arraigns 14 Filipinos for cyber-terrorism, fraud in Lagos The prosecution counsel, Joshua Abolarin, urged the court to convict him based on the charges, while the defence counsel, Ime Umanah, pleaded for a lighter sentence, citing a plea bargain agreement. "The judge, after considering the plea of the convict and evidence before the court, convicted and sentenced Eke to one-year imprisonment or an option of fine of N2m. 

Also, the convict was ordered to forfeit the following to the Federal Government of Nigeria: 12 flats of two bedrooms each located at Goodluck Jonathan bypass, Calabar, Cross River State, two plots of land (4.162 hectares and 3.391 hectares) both located at Adiabo Ikot Mboout Community Land, Odupkpani Local Government Area, Cross River State, two plots of land located at Akai Effa, Calabar Municipality, Cross River State and 18 self-contained flats (storey building), located beside University of Calabar, Ita-Agbor, Calabar, Cross River State and N10m recovered during investigation", the statement further stated.

The court also mandated that the victims of the fraud have their money back. "Eke was arrested for obtaining large sums of money from several unwary victims with the promise of an 80% return on investment within 40 days, which marked the beginning of his journey to the Correctional Centre." According to investigations, Eke had several bank accounts in which he received N2 billion from his victims. He utilized this money to buy homes and other properties in Calabar.

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